The trade surplus of New Zealand widened in April on a monthly basis, but was below forecasts. The country's trade surplus approached 355 million New Zealand Dollars in April as compared to 186 million New Zealand Dollars in March. However, analysts expected the trade balance to indicate a surplus of 475 million New Zealand Dollars. Considering yearly moves, the trade
EU leaders continue summit talks with Germany and France arguing on introduction of the Eurobonds. Eurobonds represent debt issued on behalf of all members of the Euro Zone and are aimed at boosting growth. Germany's Chancellor, Angela Merkel, claims that Eurobonds violate the EU treaties and will not accelerate growth essentially. At the same time, French President, Francios Hollande, says
Gold futures increased during Asian session on Thursday after tumbling on broadly stronger US Dollar and persistent Greece's worries. COMEX gold futures for delivery in June traded at 1,588.55 US Dollars per troy ounce on the New York Mercantile Exchange, gaining 0.66%. Meanwhile, COMEX silver July contract traded at 27.740 US Dollars per troy ounce, rising by 0.80%.
Canada's core retail sales advanced less than initial forecast in March, whereas total sales of retailers erased previous month losses. The core retail sales in the country that exclude auto sales gained 0.1% in March on a seasonally adjusted basis, confronting expectations of a 1.0% rise. Year-to-year core retail sales eased up by 2.4% in March after advancing by 2.5%
Crude oil prices slightly rose during Asian session on Thursday, erasing some of the previous losses after approaching key support levels. The market continued to be impacted by talks between Iran and six global powers regarding nuclear program. Light, sweet crude oil futures for July delivery traded at 90.58 US Dollars per barrel on the New York Mercantile Exchange, advancing
Manufacturing activity of China may have dipped in May, indicating that country's economy continued to cool. The flesh HSBC Purchasing Manager's Index dropped from 49.3 to 48.7 in May, contracting by seventh month in line. The level under 50 indicates contraction. The data adds to hopes for more easing measures from China's government to stimulate growth.
Purchases of new homes in April increased to annualized rate of 343K, 3.3% more than a month ago and 9K more than was forecasted. Acquisitions increased in three out of four US regions lead by 28% increase in both, the West and the Midwest. Amount of new homes for sale in the market increased by 2000, to 146K. Because rate
As hopes fade that EU officials will propose concrete measures to handle the debt crisis, Treasury prices increased, meaning that their yields decreased. Thus, 5-year notes earn a yield of 0.74 percent, a decrease of 3 basis points; 10-year notes yield a return of 1.74 percent, also a decrease of 3 basis points; 30-year notes earn 2.83 percent, a drop of 4 basis points. Last
Agricultural commodities slid on Tuesday as weather conditions in top grain growing regions improved.Wheat lost more than 2% after meteorologists reported that rains are expected in the US and Black Sea region. Corn was the worst performer as rains in the top grain producing regions are likely to boost prospects for current crops.Sugar extended previous losses as global supplies are
Energy commodities were mostly lower apart from natural gas due to easing supply fears ahead of key meeting between Iran and six world powers aimed at coming to a consensus over Iran's nuclear program.Crude oil tumbled amid eased supply worries and elevating US stockpiles. API reported that US crude oil inventories gained 1.5 million barrels last week.Brent oil moved in
Industry metals were mixed after OECD cut its global growth forecast, citing instability in the single currency union. Moreover, weak manufacturing data from the US added pressure on the commodity group. Aluminum fell despite potential supply cuts caused by low prices. Norsk Hydro already started negotiations with its Australian smelter aimed at halting aluminum production.Copper managed to climb by 0.1%
Precious metals declined on Tuesday amid broadly stronger US Dollar after unexpected surge in the US existing home sales in April.Gold was the top-loser as exit from the Euro Zone still is an option for Greece. Additionally, inaction of the Bank of Japan pushed the yellow metal lower.Silver tumbled, following weakness of the global equities after Fitch Ratings downgraded Japan
German bunds rose on worries that European leaders will struggle to resolve the euro zone debt crisis during tonight's European summit. David Schnautz of Commerzbank AG in London thinks that Europe is unlikely to solve key topics and will probably disappoint the market. The 5-year bund lost 5 bp to 0.47 percent at 10:49 GMT after tumbling to 0.461 percent, the lowest since 1990, when
Today the minutes of the Monetary Policy Committee's meeting, which took place on May 9-10, were published. During the meeting 2 votings were carried out. The Committee voted unanimously regarding the proposition to maintain Bank Rate at 0.5%. The second proposition to keep the stock of asset purchases at GBP 325 billion was supported by 8 members out of 9, since David Miles was in
Retail sales in UK decreased by 1.1% in April compared to the same period last year and fell by 2.3% in comparison with March. This is the biggest yearly fall since the August of 2011, when retail sales volume dropped 1.2% compared to August 2010. Retail sales volume grew 0.4%, the slowest pace in 2012, compared to the same period
A day after Fitch ratings agency downgraded Japan's debt rating, the country reported smaller then anticipated exports and bigger than expected trade deficit. Exports rose 7.9% with comparison to the same period last year. This underscored estimations of specialists by 3.9%. Trade deficit increased from JPY 84.5b to JPY 520.3b (USD 6.5b) in one month. Specialists state that all major
European stocks dropped earlier today, following the comments from Greece's ex-Prime Minister Lucas Papademos and in anticipation of the EU summit. Papademos mentioned that preparations to exit the single currency area are under consideration. Resources and banks, which were leading yesterday, are falling today. At the time of writing the Stoxx Europe 600 index dropped 1.03% to 242.25 points, the CAC 40 index lost 1.30%
According to Dun & Bradstreet, Australia is among top 5 safest places to invest, together with Canada, Norway, Germany and Sweden. Australia's attractiveness to investors comes from its relatively limited dependence on European markets and its economic strength supported by the mining sector. Solid GDP growth, low unemployment rate and inflation, which remains within the target range, contribute to Australia's image of one of the
The New Zealand and Australian dollars tumbled to this year lows on worries that European leaders would not be able to make progress in solving the euro zone debt crisis during tonight's European summit. Aussie weakened against 15 of its 16 major peers. It slid 0.5 percent versus the U.S. dollar to 97.42 U.S. cents and lost 1 percent to the Japanese yen, reaching 77.65 yen.
On Wednesday, at around 8:30 GMT, Euro sank to the lowest level against the dollar since the end of August 2010. This continued the losses of European stocks before the European leaders meeting. The pair hit USD 1.2613 level today after decreasing to USD 1.264 from USD 1.269 on two previous trading sessions this week.
The EU has agreed on pilot program worth 230 million Euros aimed at boosting economic expansion in the region without increasing the level of debt of the member states. The program, called project bonds, was approved by 27 member states. It provides easier capital access for companies that are engaged in multinational infrastructure projects. This is a significant incentive that
Asian stocks were sharply lower on Wednesday trading after former Greek PM, Lucas Papademos, reported that there is still a possibility that Greece will exit the single currency union. Adding to the negative mood of Asian shares, a World Bank reduced China's expansion forecast to 8.2% as compared to 8.4% previously expected. Hong Kong's Hang Seng Index lost 1.35% while
The Bank of Japan left the key interest rate unchanged in the range from 0 to 1% and did not announce expansion of asset-purchasing program. The bank stressed that the country's economy is moving towards stage of faster growth pace as public investments and private consumption both rose. However, attention has to be paid to Euro Zone's uncertainty and fluctuations
Crude oil futures declined in Asian session on Wednesday as Iran is ready to invite nuclear inspectors, the move that may ease oil import sanctions. Light, sweet crude oil futures for July delivery traded at 91.27 US Dollars per barrel, retreating by 0.63% from the last session's high of 91.72 US Dollars per barrel.